The Rupee closed stronger on Tuesday, tracking gains in most Asian peers, as the dollar index dipped ahead of a key U.S. inflation reading, which is expected to provide cues on the Federal Reserve's monetary direction. While the local currency fleetingly fell below the 86 handle in the previous session, its quick recovery also prompted short wagers on the currency to be liquidated, adding to its upward momentum. The dollar index was down 0.2% at 97.9, with most Asian currencies rising, while the offshore Chinese yuan was little changed. India is among the few large U.S. trading partners yet to receive a letter from the White House on a country-specific tariff rate. Negotiations between the two nations for a trade deal are currently ongoing. The dollar reached a 15-week high against the Japanese yen on Tuesday after U.S. data that showed a rise in consumer prices in June, though the increase was not big enough to change expectations on when the Federal Reserve is likely to resume interest rate cuts. The euro was last down 0.27% on the day at $1.1631, the lowest since June 25. Against the Japanese yen , the dollar strengthened 0.66% to 148.68, the highest since April 3. Sterling weakened 0.21% to $1.3399, the lowest since June 23. The dollar weakened after Trump in April announced larger than expected tariffs, but then delayed many of the levies pending negotiations with trading partners. Trump last week announced higher tariffs would come into effect on August 1 for imports from a range of countries, including Mexico, Japan, Canada and Brazil, and the European Union, though market reaction this time was relatively muted. Oil prices dropped about 1% on Tuesday after U.S. President Donald Trump's 50 day deadline for Russia to end the Ukraine ware and avoid sanctions eased concerns about any immediate supply disruption. Brent crude futures were down 51 cents, or 0.7%, at $68.70 a barrel by 12:47 p.m. EDT. U.S. West Texas Intermediate crude futures were down 65 cents, or 1%, at $66.33.......